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Oil India inks JV agreement for construction of North-East Gas Grid Pipeline

25 Jul 2018 Evaluate

Oil India (OIL) has signed a Joint Venture (JV) Agreement at Guwahati in connection with formation of a JV Company for construction of North-East Gas Grid Pipeline in the eight North-Eastern States, viz. Assam, Arunachal Pradesh, Meghalaya, Manipur, Mizoram, Nagaland, Tripura and Sikkim.

The proposed JV Company will have equal equity contribution from all the five PSU JV Partners.

Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company, while IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

Peers
Company Name CMP
ONGC 221.10
Oil India 442.65
Jindal Drilling&Inds 572.80
Deep Industries 746.50
Asian Energy Service 450.15
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